Tsp question

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
Topic Author
Tanksyr03
Posts: 8
Joined: Mon Jan 07, 2019 7:00 pm

Tsp question

Post by Tanksyr03 » Tue Nov 19, 2019 8:55 pm

Does the tsp Roth have a limit of 6000? I contribute to both the traditional and the Roth and was wondering if there was a max between both accounts.? Also if I have a tsp Roth can I open a regular Roth on top of that? seeing a lot of conflicting information on the web... thanks

AznSaver
Posts: 107
Joined: Sun Aug 25, 2019 5:51 pm
Location: Seattle, WA

Re: Tsp question

Post by AznSaver » Tue Nov 19, 2019 9:00 pm

The TSP elective deferral contribution limit is $19,000 a year. It doesn't matter whether that is Roth, Traditional, or a mix the total amount including agency match is $19k.

This doesn't include 50+ catch-ups or uniformed services bonus contribution.

Your TSP election does not have any direct effect whether or not you can have a Roth IRA only your AGI will determine that.
Last edited by AznSaver on Tue Nov 19, 2019 9:01 pm, edited 1 time in total.

User avatar
ArmyInvestor
Posts: 3
Joined: Sat Jan 06, 2018 8:31 am

Re: Tsp question

Post by ArmyInvestor » Tue Nov 19, 2019 9:01 pm

See the TPS link: https://www.tsp.gov/PlanParticipation/E ... imits.html
You can invest up to $19,500 (2020) total between the traditional and Roth TSP accounts. TPS is independent from a personal IRA that you might open. You are free to open a Roth IRA in addition to the TPS.

Tdubs
Posts: 900
Joined: Tue Apr 24, 2018 7:50 pm

Re: Tsp question

Post by Tdubs » Tue Nov 19, 2019 9:05 pm

No, the limits for the TSP are like those for a 401k. For 2020 that's $19,500 regular contributions (traditional and/Roth) and $6,500 catch-up contributions.

https://www.tsp.gov/PlanParticipation/E ... imits.html

You may also contribute to a IRA Roth subject to Modified Adjusted Gross Income limits.

https://www.nerdwallet.com/blog/investi ... on-limits/

Topic Author
Tanksyr03
Posts: 8
Joined: Mon Jan 07, 2019 7:00 pm

Re: Tsp question

Post by Tanksyr03 » Tue Nov 19, 2019 9:06 pm

Awesome thanks for the info!!

Dontridetheindexdown
Posts: 94
Joined: Sat Feb 14, 2015 10:08 pm

Re: Tsp question

Post by Dontridetheindexdown » Tue Nov 19, 2019 9:18 pm

Total amount you can contribute DOES NOT INCLUDE agency contributions.

You can contribute 19,000 for 2019 and 19,500 for 2020, and 6,000 additional for 2019, 6,500 additional for 2020 if you are age 50 or older.

Contrary to what others have stated, this is IN ADDITION TO any agency contributions.

If you are active duty military, or reserve deployed, you can make additional contributions based on income earned while deployed.

It is best to consult primary sources for these limits, rather than to rely on people who post on chat groups.

Topic Author
Tanksyr03
Posts: 8
Joined: Mon Jan 07, 2019 7:00 pm

Re: Tsp question

Post by Tanksyr03 » Tue Nov 19, 2019 9:26 pm

I’m 42.... I’m putting 18% in the tsp(10%traditional,8%roth), i didn’t realize I could actually start a separate Roth IRA ...

Post Reply